New York Times Company debt reduced to junk status
The New York Times has been battling to avoid defaulting on some $400million in debt—and has more than $1billion in debt already on the books, only $46million in cash reserves (in October 2008), its existing debt reduced to junk status and no clear way to tap into the capital markets.
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The Future of Newspapers »The Future of Newspapers
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New York Times Company debt reduced to junk status
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